QCR (NASDAQ:QCRH) Hits New 52-Week High Following Earnings Beat

Shares of QCR Holdings, Inc. (NASDAQ:QCRH) reached a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $92.00 and last traded at $89.38, with a volume of 28833 shares traded. The stock had previously closed at $88.13.

The bank reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.25. QCR had a return on equity of 12.04% and a net margin of 20.64%.The business had revenue of $107.02 million during the quarter, compared to analysts’ expectations of $106.87 million.

QCR Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 7th. Shareholders of record on Tuesday, December 23rd were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, December 23rd. This represents a $0.24 annualized dividend and a yield of 0.3%. QCR’s payout ratio is currently 3.35%.

Analyst Ratings Changes

Several brokerages have recently commented on QCRH. Raymond James Financial restated an “outperform” rating and set a $88.00 price objective (up from $85.00) on shares of QCR in a research report on Monday, October 27th. DA Davidson reissued a “neutral” rating and set a $83.00 price target on shares of QCR in a report on Thursday, October 9th. Zacks Research lowered QCR from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of QCR in a research note on Monday, December 29th. Finally, Piper Sandler boosted their price target on QCR from $92.50 to $97.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $90.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in QCR by 24.5% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 3,691 shares of the bank’s stock valued at $307,000 after purchasing an additional 727 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of QCR by 34.6% in the 4th quarter. Farther Finance Advisors LLC now owns 576 shares of the bank’s stock worth $48,000 after buying an additional 148 shares during the last quarter. Assetmark Inc. purchased a new stake in shares of QCR during the 4th quarter valued at about $37,000. State of Alaska Department of Revenue lifted its holdings in shares of QCR by 323.0% in the 4th quarter. State of Alaska Department of Revenue now owns 2,864 shares of the bank’s stock valued at $238,000 after acquiring an additional 2,187 shares during the last quarter. Finally, Daytona Street Capital LLC purchased a new position in QCR in the fourth quarter worth about $897,000. 70.01% of the stock is owned by hedge funds and other institutional investors.

QCR Stock Up 1.4%

The company has a market capitalization of $1.51 billion, a P/E ratio of 12.48 and a beta of 0.82. The company has a 50 day simple moving average of $84.52 and a two-hundred day simple moving average of $78.50. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65.

QCR Company Profile

QCR Holdings, Inc, headquartered in Moline, Illinois, is a bank holding company that delivers community banking services through its wholly owned subsidiary, QCR Bank. The company focuses on serving individuals, small to medium-sized businesses and municipal clients in select Midwestern markets.

QCR Bank offers a broad array of deposit and lending products, including personal and business checking and savings accounts, commercial real estate loans, equipment financing, mortgage lending and treasury management solutions.